Crypto billionaire: Bitcoin’s stability shows market is in good shape

U. S. Crypto billionaire Mike Novogratz said that bitcoin’s firm level at $40,000 during the latest selloff had definitely sent a good sign for the market.
Speaking after cryptocurrencies’ sharp selloff at the start of the week, Novogratz also recommended buying digital assets under the current circumstances. He said that he thought the market successfully remained in good shape.
Cryptocurrency prices rallied on Thursday, with bitcoin and ether rising along with altcoins.
“We held $40,000 overnight in bitcoin and $2,800 in ethereum. I think those are very important levels for people to watch. As long as those hold a think the crypto market is in good shape,” he said.
Bitcoin jumped by 5% to $44,159 on Thursday as ethereum rose 6.4% to $3,122. Both cryptos remain significantly lower than last Monday’s levels, when bitcoin stabled above $47,000 and ether was above $3,300.
They fell sharply on Monday, with bitcoin testing $40,000 on Tuesday, as worries about China’s Evergrande shook the markets, causing investors to rid of riskier assets.